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Recent Developments, Recommendations for JAZZ in May

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May. 10 2018, Updated 1:25 p.m. ET

Recent developments

In May, Jazz Pharmaceuticals (JAZZ) submitted a supplemental new drug application (or sNDA) to the FDA for the label expansion of Xyrem for the inclusion of its use in the treatment of cataplexy and EDS (excessive daytime sleepiness) in pediatric patients with narcolepsy.

The approval of this label expansion of Xyrem is expected to boost the drug’s revenue growth further. Studies estimate that one in 2,000 individuals in the United States is affected by narcolepsy, which represents a large patient population.

In April, Jazz Pharmaceuticals entered into an agreement with Spark Therapeutics (ONCE) whereby Jazz would purchase a rare pediatric disease priority review voucher for $110 million that would allow it to accelerate the FDA review process for one of its future regulatory submissions.

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Analysts’ recommendations

Of the 23 analysts tracking Jazz Pharmaceuticals in May, six have recommended “strong buys” on the stock, while 13 have recommended “buys.” Four analysts have recommended “holds” on Jazz Pharmaceuticals in May.

On May 8, Jazz Pharmaceuticals had a consensus 12-month target price of $182.91, which represented a ~16.7% return on investment for the stock over the next 12 months.

Peers’ ratings

Of the 13 analysts tracking Shire (SHPG) in May, ~92% have recommended some form of a “buy” rating on the stock. On May 8, Shire had a consensus 12-month target price of $201.83, which represented a ~23.7% return on investment over the next 12 months.

Of the 20 analysts tracking Alexion Pharmaceuticals (ALXN) in May, ~95% have recommended some form of a “buy” rating on the stock. On May 8, Alexion Pharmaceuticals had a consensus 12-month target price of $159.15, which represented a ~35.3% return on investment over the next 12 months.

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